The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1887-11-17

A A. Fletcher & Co, of Marietta failed
last Tuesday, report says, for heavy sum.
Their failing will seriously affect Marietta,
as by paying more than cotton was really
worth, they had built up and were sustain
ing Marietta as a cotton market Their
failure, too means something to other towns
especially those along the NJ & N G. r. R.
- anton Adc0nce.
We do not believe Bro Perry would Sc
riously do Marietta an injury, but the above
statement might have that effect if left uncon-
tradicted The failure of K. A. Fletcher &
Co., will not affect Marietta seriously at all
Our cotton market, while greatly benefited
by the good prices paid by Messrs A. A.
Fletcher Il Co., was not altogether sustained
or wholly dependent upon Fletcher & Co., for
on the contrary this unfortunate firm has
been losing money for three years. Their
failure was brought about by taking contracts
TO deliver cotton to mills at less the market
price at time OF delivery, and not by pay
ing more than the cotton was worth at the
time, They tried to keep faith with their
contracts, and then ventured to protect
themselves by buying futures, and their
losses were greater than their gains, ard
to the regret of the community they failed
Honor to whom honor is due pointedly
shows that there are others who are entitled
to as much credit in sustaining Marietta as
cotton market as A. A. Fletcher & Co,
for instance the old firm of Messrs. Winters
Legg, and B. r. Legg the latter gentle
man besides being a safe, sagacious busi-
ness man, is backed by the millionaire cot
ton buyers, S. NJ Inman & Co, of New
York, Southern men, who buy more cotton
than any one firm in the United States
They have agents all over the South and
Mr. Legg owing to his family relationship
to Mr.. lnman, is given better advantages in
| buying cotton than most any buyer in this
section oil Georgia There is a determine
ton on the part of Mr. Legg that cotton
shall bring the highest cash price In Mari
eta He he's commendable home pride
that Marietta's reputation shall be sustained,
and he has shown this by his splendid bust
ness methods, in dealing fairly and squarely
with the cotton seller, and by paying what
the market authorizes, and not venturing in
doing anything that will cripple his own f.
nancial standing Besides Mr. Legg, we
have in Marietta, Anderson J. Son, cotton
buyers and bankers, with ample capital,
men whose business judgment and prudence
always carries them safely through every
crisis and Inspires confidence in the public
mind, and they, too have helped to sustain
the cotton market. There are, also
Mckenzie & Warren, whose active coope.
ration as cotton buyers, coupled with their
energy and fine business foresight and
unqucstioned integrity, have been of grea,
benefit TO the farmers. Messrs. Wade White
and W. A. McCrea also pay the highest
market prices for cotton Marietta is not
dependent upon one firm to be sustained
as cotton market" but on the contrary is
sustained by a number of firms and mer-
chants who have ample capital, and they
want the cotton and they are going 10 pay
the top Of the market and "a little more
whenever it is safe to do so. Those persons
along the line of the Marietta & N. Ga.
Railroad can ship their cotton to Mr.. B. R
Legg and feel assured that not only his own
purse but that Of S NJ Inman & Co, stands
ready to pay the cash ior every bale with
out loss OF dollar. There is no stagnation
in business in the cotton market in Marietta,
but everything moves along with the best
assurances of success. One man drops out
of the ranks OF business, asother takes his
place, and the wheels of progress enterprise
and bpsinasa thrift goes forward without
stoppage Bring your cotton to Marietta If
you want the highest market price. and we
guarantee you will get it.